London house prices have increased by almost 10 per cent over the past year

The average London property was worth a record £438,000 in July, up with £13,000 in a month and an astonishing 9.7% more than a year before, (data from the Office for National Statistics).
It is the fastest rate of growth since August 2010 when prices were recovering from the slump caused by the financial crisis

Houses in the capital’s ten most expensive boroughs are now worth as much as the property markets of Wales, Scotland and Northern Ireland combined.

But not all areas of the capital are booming

The cheapest homes in London are to be found in the East London Borough of Newham where average prices have fallen 0.51 per cent in the last three years. The average semi-detached property in the this area costs just under £250,000, more in line with the UK national average.